Tesla reports Q1 earnings on par with estimates, aims to reach 500K cars produced two years sooner

Tesla Motors on Wednesday reported first quarter non-GAAP revenues of $1.6 billion which meant a loss of $75 million for the electric automaker, or $0.57 per share. The Q1 GAAP revenues were $1.15 billion with a net loss of $282 million, or $2.13 per share.

Tesla said orders for its Model S were up 45 percent compared to a year ago. The company, led by Elon Musk, also touted the fact that it secured more than 325,000 reservations for its upcoming Model 3 sedan in the first week alone, implying roughly $14 billion in future sales.

Looking ahead, Tesla still anticipates delivering 80,000 to 90,000 new vehicles this year. The automaker aims to produce 20,000 vehicles in the second quarter and deliver as many as possible with the rest being delivered in Q3. Realistically, Tesla thinks it can deliver 17,000 vehicles in the coming quarter.

Tesla confirmed earlier in the day that two key executives – Greg Reichow, vice president of production, and Josh Ensign, vice president of manufacturing – were leaving the company. Share values dipped on the news but have mostly recovered in after-hours trading.

Perhaps the biggest news of all (and what sent shares back up) is that Tesla is revising its plan to hit the 500,000-vehicles-produced mark, moving the date up from 2020 to 2018. It’s an aggressive move that the company says will likely require additional capital and push back its goal of being cash flow positive in 2016.

It’s a move that probably makes sense, especially if Tesla wants to cut through its Model 3 reservation list in a sensible timeframe.

I've driven a few of them. They are OK but certainly nothing to crow about. The innovations are great, but the execution still leaves a lot to be desired. If he would put his efforts into cleaning up the production rather than the PR stunts, we could have a car worth bragging about ..... only time will really tell.

Tesla's are equivalent to Audi, BMW, Mercedes, Lexus, etc. when it comes to class of car. Unless you own a high end luxury brand, you aren't going to be beating the current offerings from Tesla in comfort and performance. I would highly suggest that you actually try driving one before you bash them so much.

When they are super reliable and quality does not stink, maybe they will be worth it. I'll adopt it once all the crap is worked out. Also, range is a big issue with me, and lack of EV charging, charging times... etc.. not ready for prime time I would say.

I don't ever buy a car without rigorous research, and my research finds Tesla cars lacking in quality very much so.

When they are super reliable and quality does not stink, maybe they will be worth it. I'll adopt it once all the crap is worked out. Also, range is a big issue with me, and lack of EV charging, charging times... etc.. not ready for prime time I would say.

I don't ever buy a car without rigorous research, and my research finds Tesla cars lacking in quality very much so.

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Mandark is fooling you guys. He's almost certainly another card carrying member of the National Automobile Dealers Association (thieving NADA new car dealer or sycophant sales staff). They troll these comment boards spreading disinformation in an attempt to spread F.U.D. (Fear, Uncertainty and Doubt), about anything Elon does. Every part of his comment is typical of the diatribe of NADA trolls. In order to make their critique sound objective they deny any affiliation with the NADA (which should tell you all you need to know about how sincere their comments are). In case you don't know the NADA and their dealership owners are waging war against Tesla. They're trying to put Tesla out of business because Elon won't sell his cars through the NADA's crooked network of dealerships. Elon has chosen to avoid the traditional (crooked) retail method of selling automobiles and has instead chosen to sell his Teslas factory direct. No unnecessary middleman's "cut" that dealerships require for their services. And no money or time wasted on the useless efforts of a commissioned sales *****.
Maybe one day one of these hammerheads will grow a pair of stones, admit who they are and tell you the real reason they attack Tesla (considering how corrupt the retail new car business is and considering how venal any dealers associated with the NADA are, that could be a very long time). In the meantime do a Google search for "Tesla vs NADA" for some information the NADA doesn't want you to know about their closet monopoly.

Tesla Motors on Wednesday reported first quarter non-GAAP revenues of $1.6 billion which meant a loss of $75 million for the electric automaker, or $0.57 per share. The Q1 GAAP revenues were $1.15 billion with a net loss of $282 million, or $2.13 per share

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OK Shawn, when a company is running at a loss, why is it still called "an earnings report"? And if Elon Musk isn't bouyed up by being a charismatic / snake oil salesman / bulls*** artist, how can he operate at a loss, and still have stock prices go up?

Mandark is fooling you guys. He's almost certainly another card carrying member of the National Automobile Dealers Association (thieving NADA new car dealer or sycophant sales staff). They troll these comment boards spreading disinformation in an attempt to spread F.U.D. (Fear, Uncertainty and Doubt), about anything Elon does.

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You needn't bother expending the effort in pedantry, time &, trouble, to explain what "FUD" means, to me , or most of the others in the forum. I sometimes forget what the term implies, but that's because I'm old, so I just look it up again as needed..

Every part of his comment is typical of the diatribe of NADA trolls. In order to make their critique sound objective they deny any affiliation with the NADA (which should tell you all you need to know about how sincere their comments are). In case you don't know the NADA and their dealership owners are waging war against Tesla.

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Ooooo, kudos for the word "diatribe". Impressive. And the conspiracy theory begins to take shape, stay tuned kidz........

They're trying to put Tesla out of business because Elon won't sell his cars through the NADA's crooked network of dealerships. Elon has chosen to avoid the traditional (crooked) retail method of selling automobiles and has instead chosen to sell his Teslas factory direct. No unnecessary middleman's "cut" that dealerships require for their services. And no money or time wasted on the useless efforts of a commissioned sales *****.

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OK, I take it that you and Elon Musk are on a first name basis? Or is it that you just so desperately want that to be so? OK well, all those meanies are picking on your buddy Elon, trying to put him out of business. Did I get that right?

Because the way I see it, if he weren't so full of s***, he'd have been out of business a long time ago. After all, Tesla has never actually turned a profit. Depending on which set of figures you read, Musk either lost 225 million, or 75 million, the 1st quarter of this year alone.

Maybe one day one of these hammerheads will grow a pair of stones, admit who they are and tell you the real reason they attack Tesla (considering how corrupt the retail new car business is and considering how venal any dealers associated with the NADA are, that could be a very long time). In the meantime do a Google search for "Tesla vs NADA" for some information the NADA doesn't want you to know about their closet monopoly.

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Well maybe, the big car makers will get off their a**es, and seriously start to put their efforts into electric cars, and your Elon will be gone.

What I see happening in the here and now is, Tesla turns in another losing quarter, and Musk puts on a dog, pony, and imaginary "spacesuit" show, as a diversion.

What I see happening in the here and now is, Tesla turns in another losing quarter, and Musk puts on a dog, pony, and imaginary "spacesuit" show, as a diversion.

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RE: the profit statement (and yes, I remember that 'zon is not a favorite of yours) do you see a similarity of Amazon's decade of money losing (investment) and their current profits and (maybe) success?

I'll risk it: at what point did you conclude that Mr. Musk - note, I Didn't say Elon, no we're not on a first name basis, but as the name is nearly 'Prince' unique, many people do - when did you conclude that he was the manipulative anti-christ that your commentary seems to belay?

I ain't buyin' T-shirts, but I can't seem to hate him enuf to chase down every article to bash him, either (typically Not for comedic intent, CC, unless I missed a few good ones). Whut pi**es you off So Much?

RE: the profit statement (and yes, I remember that 'zon is not a favorite of yours) do you see a similarity of Amazon's decade of money losing (investment) and their current profits and (maybe) success?

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At the present time, Amazon's sales tactics are nothing short of tyrannical. I'm simply not that needy, desperate, weak willed, or stupid, and so I avoid them if at all possible. The only current campaign anywhere close to as obnoxious as Amazon in general, is M$' martial takeover of the home PC,and forced implementation of Windows 10. Face it, Amazon had the hubris to release a button to stick on things which you push when you're running out, and Amazon sends you more. It doesn't end there, they were trying to charge 5 bucks for it!

I'll risk it: at what point did you conclude that Mr. Musk - note, I Didn't say Elon, no we're not on a first name basis, but as the name is nearly 'Prince' unique, many people do - when did you conclude that he was the manipulative anti-christ that your commentary seems to belay?

I ain't buyin' T-shirts, but I can't seem to hate him enuf to chase down every article to bash him, either (typically Not for comedic intent, CC, unless I missed a few good ones). Whut pi**es you off So Much?

....[ ].....Because the way I see it, if he weren't so full of s***, he'd have been out of business a long time ago. After all, Tesla has never actually turned a profit. Depending on which set of figures you read, Musk either lost 225 million, or 75 million, the 1st quarter of this year alone.

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He's been losing money from the start. Most of it from tax credits, low interest government loans, government contracts bamboozled investors, and whatnot. Yet somehow, he's still managed to portray himself as the "savior of the technological world". When the reality is, he just shoots off his mouth, with the ravings of a madman, and expects other people to make it happen. Never mind if something isn't remotely possible, he'll fire you if you tell him it isn't. In the meantime, most of his public appearances come off like he has paranoid delusions of being "The Wizard of Oz".
This sums it up.:

What I see happening in the here and now is, Tesla turns in another losing quarter, and Musk puts on a dog, pony, and imaginary "spacesuit" show, as a diversion.

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Picture the "Elon Musk Magic Show". He has his lissome assistant tied up and soaking in a barrel of red ink at Tesla. Across town he begins his patter, "well, I think we could be on Mars by 2018". He continues with the shtick, "to which end I have commissioned a space suit to be made to better be able to work on the Martian surface"! (a murmur begins, then gradual crescendo of oohs & ahhhs from the crowd). And the next thing you now, the assistant appears on stage in a "bright white spacesuit", the drum of Tesla red ink now long forgotten. So, at my most charitable, I'd call him, "a sorry excuse for an illusionist", certainly not the magician he fancies himself.

What pisses me off the most, is the fanbois who swallow his BS, hook, line, and sinker. If I drew an analog, it would, in a literary sense, be like people reading the National Enquirer, and swearing up and down it was the New York Times.

Now you've been here awhile, and you should be acutely aware, I'm not going to allow a 1st time poster to come blasting in shouting, "everybody's out to get my Elon. they're all trolls and misfits", without some form of dire penalty. Sorry, I guess that's a character flaw....

Behind every huge corporation there's a CEO/Sociopath, all with massive egos, and ruthlessness unparalleled since Alexander the Great. None of them are any good, Musk just gets my nod as the worst of them, on his duplicity alone..

Ok, OM - it has been a unique 3 years and against all sense I guess, I still have hope, as an EV is simply superior in many instances (and others mfg's also trying it says positive to me).
RE turning a profit, looks like it'll still be a while (ongoing build out factor) and the media-frenzy is unlikely to abate..

Ok, OM - it has been a unique 3 years and against all sense I guess, I still have hope, as an EV is simply superior in many instances (and others mfg's also trying it says positive to me).

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The established car manufactures have to be doing surveys regarding the sales potential of electric vehicles. Since they already have most of the infrastructure in place. So, (and this is supposition), I suspect the demand isn't there yet. The individuals who are rallying around Elon Musk most vigorously, genuinely believe that we need electric cars this very moment, but are making the unfortunate assumption that every body on the planet feels the same way. Whether that's right or wrong doesn't matter. It gets categorized as an attack on good old Elon, while at the same time, the electric crowd chooses to believe there's a massive conspiracy between the car makers and oil companies in place. This drives them to Tesla, where Musk is more than happy to foster the "poor Elon" dynamic. "I'm out to save the world, and everybody's against me".

So, then we come to Musk's "brilliant idea",of cutting out the middlemen to save YOU money. It sounds good, prima facia, but there's a possible alternative motivation in play. Musk wants all those paychecks for himself. Reasonably speaking, when you only have a couple of models, and a promise of another maybe 2 years from now, why on earth would you need a dealer network anyway?

So, Musk is capitalizing on the poor reputations of used car salesmen to assassinate the characters new car salesmen. You could more than likely walk into a Chevy dealer tomorrow and drive out with a "Volt". If you wanted the new Tesla model, you could cut Musk a check, and continue to ride the bus for a couple more years. Oh well, whatever floats your boat.(Or maybe, "whatever inflates your tires" might be a better metaphor).

Then there was the big "Tesla vs. Maserati race". The Tesla pulled a hole-shot on the Mas, and then got its a** kicked. When the news hit the tech press, somehow, the Tesla had won the race!

So here, Musk was exploiting the inherent characteristics of ALL electric motors, which is the fact they produce maximum horsepower when they are stalled. Stalled, as when you are sitting at the drag strip "Christmas tree", waiting for the green.

Well, that's not "superior Tesla engineering", that's just the way s*** works.

OK, so Musk "put his own money into Tesla". Frankly, I don't see how he could have avoided doing so. If you were running around seeking government loans, investments, tax credits, contributions, and whatnot, what do you think people would say if you didn't risk your own money. Wait, I know, they'd call you a "sleaze bag and a grifter". So Musk "primes the money pump", so to speak, and the fans roar in approval.

For better or worse, that's my interpretation of the "high points" of Musk's "world domination by a preponderance of pure bulls*** campaign".

BTW, how much do you think Musk siphons out of his enterprises for a salary? Oddly, that topic never comes up. Never mind, I'm sure he's doing this, "out of the goodness of his own heart". Just ask him, he'll tell you.